AUSTRALIA DATA: Very Strong Private Capex To Support Q3 GDP Print

The State Administration of Foreign Exchange will introduce nine measures soon to facilitate cross-border trade, including expanding the scope of the pilot high-level opening of cross-border trade and the types of netting settlement services, Securities Daily reported citing Zhu Hexin, head of SAFE. Authorities will also coordinate the promotion of yuan internationalisation and high-quality opening of capital accounts, and deepen foreign-exchange management reforms in key areas such as direct investment, cross-border financing, and securities investment, said Zhu, noting that near-term policy introductions will also include implementing the integrated domestic and foreign currency fund pools for multinational corporations and the fund management for overseas listings of domestic enterprises.

Industrial enterprise profits increased by 21.6% y/y in September, accelerating by 1.2 percentage points from August, amid policy support and market-demand recovery, Securities Daily reported citing data by the National Bureau of Statistics. Companies’ operating income profit margins were 5.49%, a year-on-year rise of 0.85 percentage points, increasing for two consecutive months, the newspaper said. Among the 41 major industrial sectors, profits increased in 30 industries, accounting for 73.2% of the total, the newspaper added.

The China Securities Regulatory Commission issued 23 measures to strengthen the protection of small and medium-sized investors on Monday, aiming to create a fair-trading institutional environment, Shanghai Securities News reported. Measures include strengthening monitoring of abnormal stock trading of listed companies at risk of delisting to prevent irrational speculation and urging those that have voluntarily delisted to provide protective measures such as cash options. Authorities will also promote the People's Court to increase the application of special representative litigation in securities disputes, the newspaper said.